US President Donald Trump, in part of a dramatic shift of policy that includes reaching out to Russia, has demanded that Ukraine give access to its rare earth minerals to compensate for the billions of dollars of wartime aid it received under Joe Biden.
The deal would see the United States jointly develop Ukraine’s mineral wealth, with revenues going to a newly created fund that would be “joint for Ukraine and America”, a senior Ukrainian source told AFP on the condition of anonymity late Tuesday.
The source said the draft of the deal included a reference to “security”, but did not explicitly set out the United States’ commitments — one of Kyiv’s prior demands for an agreement.
“There is a general clause that says America will invest in a stable and prosperous sovereign Ukraine, that it works for a lasting peace, and that America supports efforts to guarantee security.
“Now government officials are working on the details,” the source said.
The Ukrainian source said President Volodymyr Zelensky could sign the deal on a trip to Washington as early as Friday — a timetable confirmed by Trump.
“I hear that. I hear that he’s coming on Friday,” Trump told reporters at the White House.
“He would like to sign it together with me, and I understand that — it’s a big deal, a very big deal,” Trump said.
Zelensky had earlier baulked at Trump’s demands to give the United States $500 billion worth of valuable minerals used in aerospace, electric vehicles and other technologies — a sum far above the official figure of $60 billion in US military aid to Ukraine since the invasion.
The Ukrainian source said Washington had cut the $500 billion reference.
“They removed all the clauses that did not suit us,” the source said.
Trump said of the emerging agreement: “It could be a trillion-dollar deal. It could be whatever.”
Trump did not answer directly when asked what Ukraine would get in return and instead pointed to past US weapons deliveries.
“Biden was throwing money around like it’s cotton candy,” he said. “We want to get that money back.”
Shift by US
Ukraine hopes the minerals deal will improve relations with the Trump administration which have quickly soured.
Trump has upended US foreign policy since taking office last month, opening dialogue with Russian President Vladimir Putin while making threats against Washington’s traditional allies.
